4 M’s in Business

• The most serious issues in the whole production system are the inputs and the transformation process.
• The factors involved in the input and the production pressure are usually referred to as the Four M’s of production
• Manpower - talks about human lbor force involved in the manufacture of products
• Manpower is measured as the most serious and main factor of production
• In manpower

  the entrepreneu must determine, attain and match the most competent and skilled employees with the jobs at the most appropriate time period
• Materials - it simply refers to the raw materials necessary in the production of a product
• In materials

  the entrepreneur may consider cost, quality, availability, credibility of supplier and waster that raw materilas may produce
• Machine - is about manufacturing equipment used in the production of goods or delivery of services.
• in machine

  the entrepreneur may consider types of product to be produced, production system to be adopted, cost of the equipmen, capacity of the equipmen, availability of spare parts in the local market
• Method - is the process or way of transforming raw materials to finished products